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The Influence of Oil Prices on Equity Returns of Canadian Energy Firms
Journal of Risk and Financial Management
Using monthly data from January 2000 to August 2018, this paper examines how the Canadian oil and gas industry and individual firms' equity prices react to oil price fluctuations, which are measured by the traditional West Texas Intermediate (WTI) benchmark and the Canada-specific Western Canadian Select (WCS) benchmark. The findings provide support for the view that oil price movements are an important factor in explaining the equity returns of the overall industry and for many individual oildoi:10.3390/jrfm14050226 fatcat:rmtnq5slxvfmrpfo7qxo3oaqbm